Huobi launches US exchange HBUS: Cryptocurrency exchange HBUS has officially opened for business in the US. Linked with the world’s fourth-largest crypto exchange Huobi, HBUS will signal a foothold in another major global market for Huobi.
HBUS is a “strategic partner” of Singapore-based enterprise and will not formally operate under the Huobi brand.
CEO of HBUS, Frank Fu stated: “Our strategic partner, Huobi, has grown to be the largest digital asset marketplace globally. As investors‘ acceptance of virtual currency and digital asset increases, we have seen incredibly high demand in the U.S. We are excited to launch as Huobi’s strategic partner, to serve the growing number of people participating in virtual currency trading,”
Huobi launches US exchange HBUS
HBUS will join other US exchanges such as Coinbase and Kraken and base itself out of San Fransisco.
The team behind the enterprise hope that “its user-friendly interface and extensive choice of cryptocurrencies will set it apart from its competitors, making it highly attractive to potential customers.”
It is reported to be supporting nine cryptos at launch inclusive of Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dash, Tether, and Civic. It is worth noting that currently, the platform does not support fiat trading pairs, though the future could tell a different story.
That pool fails to include the Huobi token which was launched in January. It seems HBUS might be keeping the best for later though, as it said that coin will serve as the basis of the “next generation financial protocol.”
Starting today, 41 States across America can use the platform but only for depositing funds at present. Trading does not officially begin until July 10 and so users cannot make withdrawals until then. The platform is unavailable in states: Alabama, Connecticut, Georgia, Louisiana, New York, North Carolina, Hawaii, Vermont, and Washington.
Huobi has been vocal regarding its assertive expansion plans; it is building relationships with blockchain projects and has this month announced a $100 million USD investment in an effort to become decentralized. The company also recently launched a billion-dollar blockchain fund for Chinese startups.
Just this month, Huobi opened an office in London and only days after it opened an exchange in Australia. Add to that, It has plans to launch an over-the-counter (OTC) trading service further into 2018.
Feature Image: Google Images/ BCFocus